American HealthChoice Announces First Quarter Results.Business & Health Editors IRVING Irving, city (1990 pop. 155,037), Dallas co., N Tex., a suburb of Dallas; inc. as a city 1952. Building supplies, chemicals, electronic equipment, and airplane parts are manufactured in Irving. , Texas--(BUSINESS WIRE)--Feb. 20, 2001 American HealthChoice, Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: AHIC AHIC American Health Information Community ) today announced financial results for the quarter ended December 31, 2000. Net income for the three months ended December 31, 2000 was $12,000 compared to a net income of $28,000 for the same period in 1999. Earnings before interest, taxes, depreciation and amortization Earnings before interest, taxes, depreciation and amortization (EBITDA) is a non-GAAP metric that can be used to evaluate a company's profitability.
A charge off, made by a company against earnings, that does not require an initial outlay of cash. Notes: Non-cash charges are typically against the depreciation, amortization, and depletion accounts on a company's balance sheet. , which will continue in future quarters, amortizes over a ten year term the excess in purchase price over the fair value of clinic assets acquired in September 2000. Chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. Dr. J Noun 1. Dr. J - United States basketball forward (born in 1950) Erving, Julius Erving, Julius Winfield Erving .W. Stucki stated "Historically the quarter ending December has lower patient revenues than the other quarters due to the holiday season. The most recent quarter was further impacted by the cold weather in December. Our January patient services have improved significantly from December and we expect revenues for the quarter ended March to increase 10% compared to the December quarter. If this trend continues, we anticipate higher profits in future quarters." American HealthChoice, Inc. is a provider of healthcare services and operates primary care clinics located in Texas and Louisiana Louisiana (ləwē'zēăn`ə, l  ē'–), state in the S central United States. It is bounded by Mississippi, with the Mississippi R. . Its
stock is quoted on the OTC Bulletin Board OTC Bulletin BoardAn electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. under the symbol "AHIC". "Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. " Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2000 filed with the Securities and Exchange Commission.
American HealthChoice, Inc.
Condensed Consolidated Statements of Operations
Three Months ended December 31
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1999 2000
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Net patient revenues $ 1,015,000 $ 1,236,000
Operating expenses excluding
depreciation & amortization 974,000 1,107,000
Depreciation & amortization 24,000 135,000
Other income, net 11,000 24,000
Taxes - 6,000
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Net income $ 28,000 $ 12,000
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Basic and diluted net income
per share $ - $ -
Weighted average common shares
outstanding 28,144,000 80,121,000
Condensed Consolidated Balance Sheet
December 31,
2000
Cash $ 3,000
Accounts receivable, net 7,619,000
Other current assets 146,000
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Total current assets 7,768,000
Property and equipment, net 470,000
Goodwill, net 3,721,000
Other assets 428,000
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Total assets $ 12,387,000
===========
Current liabilities $ 915,000
Convertible debentures (1) 3,697,000
Other long-term liabilities 1,719,000
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Total liabilities 6,331,000
Stockholders' equity 6,056,000
---------------------
Total liabilities and
stockholders' equity $ 12,387,000
==========
(1) Convertible into 20,415,000 shares of common stock
American HealthChoice, Inc. is a provider of healthcare services and operates primary care clinics located in Texas and Louisiana. Its stock is quoted on the OTC Bulletin Board under the symbol "AHIC". "Safe Harbor" Statement: The statements in this release that relate to future plans, expectations, events, performance, and the like are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and the Securities Exchange Act of 1934. Actual results or events could differ materially from those described in the forward-looking statements due to a variety of factors, including those set forth in the company's report on Form 10-KSB for fiscal year 2000 filed with the Securities and Exchange Commission. |
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